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Weekly forecast Australian Dollar / US Dollar technical chart
Symbol AUDUSD
Trade Setup

#AUDUSD
Total Profit: -636 pip
Closed trade(s): 0 pip Profit
Open trade(s): -53 pip Profit

Trade Setup:
We opened 12 BUY trade(s) @ 0.6521 (day close price) based on 'Hammer' at 2022.09.28.

Open Profit:
Profit for one trade is 0.6468(current price) - 0.6521(open price) = -53 pip
12 trade(s) still open, therefore total profit for open trade(s) is -53 x 12 = -636 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateNovember 5, 2022 - 06:30
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.61687, beginning of uptrend is expected.
  • We make sure when the resistance at 0.66798 breaks.
  • If the support at 0.61687 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 0.65215 on 10/27/2022, so more losses to support(s) 0.64306, 0.63620, 0.62700 and minimum to Major Support (0.61687) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 53.

Take Profits:

  1. 0.65729
  2. 0.66798
  3. 0.67701
  4. 0.69100
  5. 0.70065
  6. 0.71350
  7. 0.72787
  8. 0.74570
  9. 0.76600
  10. 0.78900
  11. 0.83693
Click on the level to view price action history.